LG Display, Supply Disruption Concerns Amid Spread of Novel Coronavirus

[Asia Economy Reporter Dongwoo Lee] LG Display expressed concerns on the 31st that the supply of liquid crystal display (LCD) panels could decrease due to the novel coronavirus (Wuhan pneumonia) outbreak.

Seodonghee, LG Display's Chief Financial Officer (CFO, Executive Director), said during the earnings conference call for last year on the 31st, "It is true that the coronavirus situation in China is gradually worsening," adding, "We will prioritize employee safety and decide on the operation status of each fab (factory) and future operational directions accordingly."

LG Display operates an LCD panel factory in Guangzhou, China, with a monthly production capacity of 200,000 units, and is concerned about potential damage to the logistics supply chain within China due to the spread of the novel coronavirus.

On the same day, LG Display announced an operating loss of 1.3594 trillion KRW on a consolidated basis for last year. Sales amounted to 23.4756 trillion KRW, a 4% decrease compared to the previous year, and it recorded a net loss of 2.8721 trillion KRW, turning to a deficit. Sales in the fourth quarter of last year were 6.4217 trillion KRW, down 8% year-on-year, with an operating loss of 421.9 billion KRW.

This content was produced with the assistance of AI translation services.